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The role of governmental agencies in trade governance cannot be overlooked from "summary" of Modern Law of International Trade by Ajendra Srivastava
It is crucial to understand the significance of governmental agencies in the realm of trade governance. These agencies play a pivotal role in ensuring that trade activities are conducted in a fair and efficient manner. They are responsible for formulating and implementing regulations that govern international trade. Without the presence of these agencies, there would be chaos and confusion in the global trading system. Governmental agencies are tasked with monitoring and enforcing trade laws and regulations. They work to prevent unfair trade practices such as dumping and subsidies that distort competition in the market. By doing so, they help to create a level playing field for all participants in the international trade arena. Moreover, governmental agencies also play a crucial role in promoting trade liberalization and facilitating trade negotiations. They represent their respective countries in trade talks and work to secure favorable trade agreements that benefit their nations. These agreements help to lower trade barriers and promote economic growth and development. In addition, governmental agencies are responsible for overseeing trade disputes and resolving conflicts that may arise between trading partners. They serve as mediators and arbitrators in trade disputes, helping to maintain stability and predictability in the global trading system.- The role of governmental agencies in trade governance is indispensable. They are the backbone of the international trade system, ensuring that trade flows smoothly and that rules are followed. Without their presence and intervention, the world of international trade would be chaotic and unregulated.
